79542
Iraq and Iran have agreed to swap up to 60,000 bpd of crude.
Iraq and Iran have agreed to swap up to 60,000 bpd of crude.

Iraq Says Oil Trade With Iran Will Begin Soon

Iraq Says Oil Trade With Iran Will Begin Soon

Iraq will start exporting oil from the northern Kirkuk fields to Iran before the end of January, Iraqi Oil Minister Jabar al-Luaibi told reporters in Baghdad on Sunday.
About 30,000 barrels per day of crude will be trucked to Iran’s Kermanshah Refinery in the first instance, he said.
"God willing, we will start before the end of the month," he added, Reuters reported.
Trucking crude to Iran comes under a swap agreement announced last month by the two countries to allow a resumption of oil exports from Kirkuk.
Iraq and Iran have agreed to swap up to 60,000 barrels per day of crude produced from Kirkuk for Iranian oil to be delivered to southern Iraq, Luaibi said last month.
Kirkuk crude sales have been halted since Iraqi forces took back control of the fields from the Kurds in October.
Kurdish forces took control of Kirkuk in 2014, when the Iraqi Army collapsed in the face of the onslaught of the self-styled Islamic State terrorist group. The Kurdish move prevented the militants from seizing the region’s oilfields.
Iraq and Iran are also planning to build a pipeline to carry the oil from Kirkuk to avoid having to truck the crude, Luaibi said last month.
The planned pipeline could replace the existing export route from Kirkuk via Turkey and the Mediterranean.
Late last year, Iran resumed swapping crude oil from the Caspian Sea in the north to customers in the Persian Gulf after operations came to a halt seven years ago following tighter economic curbs imposed against Tehran over its nuclear program.

Short URL : https://goo.gl/ijxXat
  1. https://goo.gl/V8VRq7
  • https://goo.gl/mWpsR5
  • https://goo.gl/KoC7nU
  • https://goo.gl/qw8D2T
  • https://goo.gl/2T7zgF

You can also read ...

679 tons of carbon dioxide will be prevented from entering the atmosphere during the project’s 20-year lifetime.
Solar power is becoming an increasingly important part of the...
India Will Lead International Oil Demand by 2035
Oil market participants and analysts have been closely...
Oil Markets Split
Oil markets were split on Tuesday, with US crude still...
Oil Producers to Mull  Long-Term Cooperation
OPEC and non-OPEC oil producers, including Russia, will...
Iran is currently drawing crude from West Karoun block at an unacceptable extraction rate of 5-6%.
Iran's Petroleum Engineering and Development Company has...
Gas Delivery to Power Plants Cuts Pollution, Raises Revenues
Supplying natural gas to power plants, instead of liquefied...
Iran Gasoline Consumption  at 80 ml/d in 1 Month
Data released by the National Iranian Oil Products...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus